TOOMEY v BANCO VITALICIO DE ESPANA SA DE SEGUROS Y REASSEGUROS

[2005] Lloyd's Rep IR 423

COURT OF APPEAL

Before Sir Andrew Morritt, Vice-Chancellor, Lord Justice Dyson and Lord Justice Thomas

Reinsurance - Direct policy against loss of television rights in event that Spanish football team was relegated from Spanish first division - Whether policy written on agreed value or subject to proof of loss - Identity of insured person under policy - Reinsurance of policy on full reinsurance basis - Content of full reinsurance clause - Whether clause a warranty as to compliance of direct policy with stated terms - Whether warranty in reinsurance relating to nature of underlying insurance.